News: Petroleo Brasileiro Petrobras SA (PBR)

PBR on New York Consolidated

14 Jul 2014
Price Change (% chg)

$0.66 (+4.34%)
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Mon, Jul 7 2014

Japan refiner Nansei halts oil refining operations due to typhoon

TOKYO - Nansei Sekiyu KK, a Japanese refiner wholly owned by Brazil's Petrobras , said it suspended oil refining operations at its 100,000 barrels-per-day Nishihara refinery in Okinawa, southwest of Japan, on Monday evening due to an approaching typhoon.

Petrobras says cost of new oil rights to push back debt target

BRASILIA - New oil rights awarded this week will saddle Brazilian state-run oil company Petrobras with at least $26 billion of new costs by 2030 and further delay efforts to reduce debt below an internal target, according to a Friday presentation.

Ratings firms fret over cost of Petrobras' new Brazil oil rights

RIO DE JANEIRO, June 27 - Ratings firms expressed concern on Friday about a Brazilian government decision to sell billions of dollars worth of offshore oil rights to Petrobras, saying the move will weigh on the state-run oil company's cash flow and credit-worthiness.

RPT-Fitch: Assignment of Surplus Volume to Pressure Petrobras' Cash Flow

June 27 - (The following statement was released by the rating agency)

Petrobras offshore oil rights may cost 50 pct more than expected

SAO PAULO, June 26 - Brazil's Petrobras may have to pay as much as 22 billion reais ($10 billion) by 2018, or 50 percent more than first announced, for new offshore oil rights that a cash-hungry government decided to sell the state-run oil company on Tuesday.

Petrobras board member lashes out at gov't over oil plan

RIO DE JANEIRO - A board member of Brazil's state-run Petrobras lashed out at the government on Thursday and said he may ask the country's securities regulator to sanction the oil company for failing to inform him and other board members of a 15 billion real ($6.8 billion) oil-rights purchase plan.

UPDATE 1-Petrobras board member lashes out at gov't over oil plan

(Adds comment from Sinedino, third board member, share price, background)

Petrobras board member may file complaint over $6.8 bln oil plan

RIO DE JANEIRO, June 26 - A board member of Brazil's state-run oil company Petrobras said he is considering filing a complaint with the country's securities regulator after the government and executives failed to inform him and other board members of a 15 billion real ($6.8 billion) oil-rights purchase plan until it was made public.

UPDATE 2-Brazil to sell cash-strapped Petrobras new oil rights

(Recasts to add government spending debate, background, updates share price)

EMERGING MARKETS-Bovespa erases gains as Petrobras, Copel disappoint

(Updates with Brazil's Bovespa closing little changed as Petrobras, Copel erased gains)

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